Say, i noticed there is system maintenance starting tomorrow..i wonder if i do self contribution today will get delayed?

Are you using the epf app or bank transfer?

may as well deploy the strategies by both the parents (wifey and you) in parallel... that itself is diversification and improves the chances of positive outcomes.

For the EPF part, just need to be cognizant... EPF did mention that members born after 2010 may not have the same treatment as us older members.
In particular, this phrase: "The proposed mandatory monthly withdrawal option however will only apply to new EPF members born in or after 2010, and registered with the EPF after the implementation date. The first payout under the mandatory option is only expected to be made when these new members retire, some decades in the future. This proposal is still being refined, ... "

https://www.kwsp.gov.my/en/w/no-change-for-...g-epf-members-1

After the news of World Bank 70 years old recommendation, are you guys spooked out of doing out monthly self contribution?

Interesting... May I know then, where do you put your excess cash to each month?

Thanks I think I am on the same boat as you. KDI Save, maybe I will start putting more than 50K, ASM hope to get some more units in Q1 2025. Promo pots/jars/FD in Aeonbank and Ryt.

rare opportunity
4.6% pa x 2 years
free insurance
best part is use creditcard money
get points cashback
take back as cash

EPF said it will review the ria framework every 3 years
Don't worry so much as 1M excess withdrawal was implemented back in 2007 and now 1.3M withdrawal will be effective in 2028 so it take at least 20 years for gov to move up 30%

Let us just assume 20 years move 30% also it won't matter much as after 20 years most of us here either up in heaven or at least 50 years of age...

2007 - 1.0M
2028 - 1.3M
2048 - 1.7M
2068 - 2.2M

This is base on every 20 year increase about 30% lo....

Why allow some hearsay derail your plans?
If at this age, you are already having the ability to be within range of the million, don’t worry so much. If one has a million, it’s not a big deal if they increase the amount by a hundred k. Since the dividends can cover half of that. The other half will likely be covered by your ongoing contributions.
I don’t envisage them changing and increasing it every year. Once they get to 1.3mil, it will stop.
The essence of allowing withdrawals after a million is in line with substantial amount. It was then but not so much now. So the new level is 1.3mil. Should not be a problem for you to get there.

It was mentioned many times, any changes will only affect the new account holders which is basically 13 years old today.

If you look at the statistics published by EPF, you will realise the pareto principle applies. Changing the withdrawal age to 60 or 65 would have no material effect on the existing people.

Unfortunately, I do think the adjustment is bound to happen... whether annually or every three years. EPF has already made it clear that the target is tied to Belanjawanku, which itself is based on actual spending patterns.

The formula listed is quite straightforward: 2 × 240 × Adequate Retirement Income. Once spending benchmarks move up, the EPF target naturally follows.

And if we think back, EPF announced this framework last year and there was almost no pushback (I cannot even recall any MPs make any noise). So it’s safe to assume these periodic adjustments will continue.

As for the magnitude, a more reasonable estimate would be around 30K to 40K per year. If we assume inflation averages 3%, that works out to roughly 1.3 × 3% = ~ 39K, which feels like a fair, data-consistent adjustment.
(technically the first year's can be 100K, since they delayed the current implementation by 3 years)

Based on what you have provided, wouldn’t the dividend and your work contributions make up the rm100k a year? Your voluntary contribution should fall beyond the minimum right?

That's because you are not thinking with brain, but with heart.

EPF money is yours. When you reach 60, you get to withdraw it. They might change it, but it will take a longer time.

Say you hit 55 and you have RM1mil, but now EPF say you cannot withdraw the access until its RM1.1mil. You have account 3 which would have 100k or so by then to use. Secondly, how many people need to withdraw 100k the day they turn 55?

And if they need to do so, that is exactly why EPF is trying to stretch the retirement savings rather than having retirees withdrawing vast sums to spend on short term items and then don't have enough to survive. They are also the group that is harder to get a new job to supplement their income.

EPF is a retirement fund. Their goal is to ensure people can retire with the money they require. We are the ones that treat it like a HYSA, then gets surprised when it isn't the case.

I guess he is saying for anyone with big amount in EPF there is no fear how EPF going to increase thresholds....am I right?

Sorry you feel it’s personal. But thanks for agreeing to what I said.
The OP provided additional information which made it easier to hone down to his exact situation. Many times people say something but assumptions needs to be made simply coz they don’t put out enough information.

As to why I asked those questions, I guess you already answered it for me. Just highlighting that in his position, he should not be too concerned.

Also another point to remember, when the government announced that they are studying the withdrawal formulation.  They did stress several times that it will not be retroactive. The first that will be affected are only 15 years old. Those born after 2010.

Just saying. I know of a case. If one hits 1mil at 46,47 and continued working till 60 and your employer pays 17-18% contributions. Will snowball to a massive amount even without self contributions.

Haha. That's why I said before that the increase of age for withdrawals should be implemented with immediate effect on all members. Not just new members. New age is now 85.

Lol.

(jk... Although magika pointed out cleverly that I dare to say so because I already cut my exposure of epf to insignification % of my portfolio)